Where are you now?


Uncertainty still pervades the transport industry, especially shipping, according to the latest results of the latest Norton Rose “The Way Ahead” transport survey,  sub-titled “Where are You Now?”.

Norton Rose had great foresight in conducting its “The Way Ahead” Transport survey for the first time in 2009. It was less than a year after the BDI crashed in October 2008, and no one knew what was happening. Was this a short term crisis or something deeper? Norton Rose decided to find out what we thought. The survey is now an established barometer of the aviation, rail and shipping sentiment. The unveiling of the results of the latest surveyis also a pleasant social event, held at the Norton Rose offices overlooking the Thames and Tower Bridge, and hosted by the head of transport, Harry Theochari.

Harry Theochari

The fourth edition of the survey was conducted between November 2012 and January 2013. There are just over a thousand replies, split equally among the aviation, rail and shipping folk taking part. The replies come from two groups of people, “participants” are those directly involved, such as shipowners. The “participants” group makes up 72%. The remainder are the “commentators” supporting the industry such as lawyers and journalists.

To download a full version of this report follow this link  (http://goo.gl/bTFnb) to download your own copy of the Norton Rose “The Way Ahead” Transport Survey. Below is a summary of the shipping results.

Shipping Summary

  • Since 2010, 58% of respondents have made changes to the market segments in which theyoperate, the range of products or services they offer, or their geographical focus.
  • Among those respondents who had made changes to their business, 51% of the shipping respondents had planned to enter one or more new market segments.
  • Between 2010 and 2012, 43% of the shipping respondents reported a rise in their turnover, with 34% reporting a reduction. 48% of respondents had seen an increase in their fixed costs.
  • Between 2010 and 2012, 32% of shipping respondents had increased their workforce and 45% had seen no change; 33% of respondents had seen an increase in the number of assets employed and 30% had seen an increase in the capacity of their assets employed.
  • Increased financial constraint was highlighted as one of the most significant changes to their business between 2010 and 2012 by 40% of the shipping respondents. Overcapacity of supply was also highlighted by shipping respondents.
  • London was selected as the financial centre best able to meet their needs by 40% of shipping respondents, with New York and Singapore joint second.
  • 36% of shipping respondents are using or considering new sources of finance, and structured finance was most favoured (26%), new private equity (23%), and export credit (20%).
  • More efficient fuel consumption is seen as the key development focus (69%) for shipping respondents.
  • 67% of shipping respondents have no planned / possible order.
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About Craig Jallal
A shipping analyst whose feels the need to comment on the industry.

One Response to Where are you now?

  1. Pablo Mastragostino says:

    I m looking for a Tanker Chartering position as broker or freight trader- I have 29 years experience in this sector . I am presently resident in Switzerland, Italian citizenship and ready to move everywhere.My CV may be viewed on LinkedIn or I may forward a copy upon request. I am fluent in Spanish English and of course italian.Many thanks your attention and suggestions. Pablo Mastragostino

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